Not too long ago, foreclosed homes dominated the real estate market in the Palm Springs area. They were priced to move quickly, and many had damage, ranging from the obvious (large holes in the walls) to the unnoticeable (sand poured down the drains).
Many buyers perceive that foreclosed properties are bargains. While they may
be value-priced, there are pitfalls to buyinga foreclosed home. The entity that foreclosed on the property has never lived in the house, and cannot disclose any of the answers to the questions buyers would like to know.
For instance, how old is the roof? Are there any quirks in the house or the appliances? When was it last updated? Were there pets living here previously? Are the neighbors noisy? A professional home inspection may not uncover the answers, so there is a factor of the unknown in the purchase of a foreclosed home.
With home values going up, there are more equity, or "regular", sales listed. An equity sale is a house offered by the owner that is neither a foreclosure or a short sale. Usually, the owner has built up some equity in the house. Pricing can be comparable to the foreclosed homes, thus making the purchase of a non-foreclosed property the smarter buy.
Foreclosure listings are getting harder to find, but there are still some available in the Palm Springs/Coachella Valley area. To find current listings for foreclosed houses, short sales and regular sales, please < click here >.
We can also find you the perfect loan (click here) for your perfect house. With Todays Realty Group and Loan Solutions, One stop and YOU are home!